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To: GST who wrote (142727)6/5/2002 8:54:56 AM
From: H James Morris  Respond to of 164684
 
A prolonged military confrontation between India and Pakistan over Kashmir will seriously affect the software and back-office industries and foreign investment.

The perception that India is an unstable country, or in an unstable region, might hurt outsourcing

Richard Rothman
US trade commissioner to western India

India's main software lobby group, the National Association of Software and Service Companies (NASSCOM), and US and Indian government officials have issued warnings about the continuing impact of the dispute.

"If the stand-off continues for a few weeks, we are going to have some business impact which eminates from postment and cancellation of business deals," said Kiran Karnik, president Nasscom told the BBC's World Business Report.

"If it goes on further, then I see customers off-loading mission critical work and looking for alternatives outside the country," he said.

India's software industry attracted about $453m in foreign investments in the financial year to March 2002.

Nuclear armed India and Pakistan are locked in a tense stand-off and have massed over one million soldiers on their borders.

Government warnings

"The perception that India is an unstable country, or in an unstable region, might hurt outsourcing," said Richard Rothman, the US trade commissioner for western India.

Randeep Sudan, special secretary to the Chief Minister of Andhra Pradesh, the capital of Hyderabad, said the government was worried foreign firms would put Indian investments on the backburner.

"Foreign investment deals that were almost finalised have now been put on hold because of the war fears," Mr Sudan told AFP.

"The darkening war clouds make India suddenly look like a risky investment proposition," he added.

Andhra Pradesh has become on of India's information technology hubs with a $375m software park that is home to hundreds hi-tech firms including Microsoft and Oracle.

Software outlook

The IT and back-office industries have been India's most important sectors for creating hundreds of thousands of skilled jobs.

India's software service exports rose 29% last year, to $7.5bn, the fastest growing sector, and accounted for 16% of overall exports.

Hundreds of multinational companies have outsourced their back-office operations to India because of the huge pool of English-speaking, computer-literate workers.

NASSCOM estimates outsourcing to India saves companies up to 40% of their back-office costs.



To: GST who wrote (142727)6/5/2002 9:42:23 AM
From: H James Morris  Read Replies (1) | Respond to of 164684
 
RANCHO SANTA FE, Calif., June 4 — The schools are outstanding, there’s almost no crime and the sun shines 320 days a year. Only residents can join the community’s world-class golf club. But only the rich need apply. Rancho Santa Fe, a town of 5,000 people 30 miles north of San Diego, is the nation’s wealthiest community, according to census figures released Tuesday.

“IT’S A wonderful place,” said Annie Perez, who owns Bolero Mexican cafe in the tiny downtown area and lives nearby. “This is the best life.”
The per capita income of more than $113,000 puts Rancho Santa Fe ahead of Atherton and Woodside, both near San Francisco; Palm Beach, Fla.; and Bloomfield Hills, Mich., census figures show. Indian River Shores, Fla., ranked No. 1 in the last census in 1990, fell to seventh place in the latest survey.
Rancho Santa Fe also was the most expensive place to buy a house in the United States over the past year. The median single-family home price is $1.7 million, according to DataQuick Information Systems of San Diego.
Few residents complain.
“I consider myself lucky,” said Albert Plattner, who lives a short walk from his real estate office in Rancho Santa Fe’s two-block downtown. “I think it’s the greatest place to live in the world.”
What’s luring America’s wealthiest people? For one thing, privacy.

Rancho Santa Fe’s rural feel has been zealously guarded for 74 years by a strict set of rules, called the Protective Covenant. Most properties are a minimum two acres. All the traditionally styled Spanish, Mediterranean or ranch homes must meet standards set by a design board that calls itself the Art Jury, which strives to ensure even 18,000-square-foot buildings blend into the landscape.
“To buy a property up here you have to invest a lot of money,” said Keith Behner, Rancho Santa Fe’s planning director. “But once you invest a lot of money, you don’t have to worry about a McMansion going up next door that’s flamingo red.”
Only residents can join the community’s golf and tennis clubs or use the 26 miles of hiking and equestrian trails.
There’s no home mail delivery, and streetlights and sidewalks are banned from residential areas to enhance the sense of country life. On Election Day, some residents pull up to the polls in golf carts. Others feel safe enough to leave their keys in the cars parked in their driveway.
“We have this country life going on in the middle of the city,” said resident Joy Bancroft.

The 10 wealthiest communities in the United States, their average per capita income and the number of households there, according to figures released Tuesday by the U.S. Census Bureau:
City Income Households
Rancho Santa Fe, Calif. $113,132 1,200
Atherton, Calif. $112,408 2,385
Palm Beach, Fla. $109,219 5,697
Bloomfield Hills, Mich. $104,920 1,523
Belle Meade, Tenn. $104,908 1,058
Woodside, Calif. $104,667 1,905
Indian River Shores, Fla. $102,511 1,759
North Hills, N.Y. $100,093 1,814
Cherry Hills Village, Colo. $99,996 1,980


Source: U.S. Census Bureau




NOTABLE HOMEOWNERS
Residents owe the rustling eucalyptus groves sprinkled through the area to a major corporate blunder. The town’s namesake, the Santa Fe Railroad, planted the area with eucalyptus trees in 1906, intending to make railroad ties from the harvested wood. But it was eventually discovered that the wood was unsuitable.
Microsoft Chairman Bill Gates, the singer Jewel and the Sultan of Brunei reportedly own properties here, said Lorine Wright, editor of the Rancho Santa Fe Review. Reclusive mogul Howard Hughes owned a house here long ago, as did singer-actor Bing Crosby, who helped finance the golf course.
Rancho Santa Fe holds the dubious distinction as the site of the worst mass suicide on U.S. soil. The 39 members of the Heaven’s Gate cult killed themselves in 1997, believing they were shedding their earthly “containers” to catch a ride on a spaceship trailing Comet Hale-Bopp.
But there was little to cloud the picture on a recent weekend as Bancroft lunched with her family along the main street.
“It’s another silver day in Rancho Santa Fe,” she said.



To: GST who wrote (142727)6/5/2002 11:06:50 AM
From: H James Morris  Read Replies (1) | Respond to of 164684
 
MANU : MANUGISTICS GROUP (NASDAQ). This Rockville,MD company has wowed Wall Street with its supply-chain software.
That won it a market cap of $1.3 billion, or four times its revenue, even though the firm is still not profitable.
Please note who the CFO is. Raghavan Rajaji, Exec. VP/CFO.
Btw
Great news the USA beats Portugal 3-2 in the world cup.



To: GST who wrote (142727)6/6/2002 7:20:33 AM
From: H James Morris  Respond to of 164684
 
>>However, high-tech leaders - and the Indian public - were skeptical that the current conflict would escalate into nuclear war.<<

seattlepi.nwsource.com



To: GST who wrote (142727)6/6/2002 11:14:38 AM
From: H James Morris  Read Replies (1) | Respond to of 164684
 
>>Markets: Price falls 2%, biggest one-day decline in a year. Metal's recent rally might resume, but gains may be limited by a decline in demand in India, its biggest user.<<

latimes.com